GNI Group extends winning streak to 6 days on plan to acquire painkiller maker Ayumi Pharmaceutical
GNI Group Ltd. <2160> extended its winning streak to a sixth consecutive session on Monday. Investor sentiment was boosted by the company's announcement after Friday's close that it will acquire all shares of Ayumi Pharmaceutical Holdings, a Tokyo-based manufacturer of antirheumatic drugs and antipyretic analgesics, by September 30 to make it a subsidiary.
Ayumi's antipyretic analgesic Caronar holds a market share of over 80% in Japan's acetaminophen market, and the company judged that integrating Ayumi's domestic business infrastructure would strengthen the group's domestic management foundation. The move is also expected to enable the swift introduction and deployment of the group's development products, overseas pharmaceuticals, and biosimilars into the domestic market. The acquisition price is 46.77 billion yen.
Simultaneously, the company announced a third-party allotment of approximately 9.97 million new shares to BCP Asia AYM Holding, TOHO HOLDINGS CO.,LTD. <8129>, and Hisamitsu Pharmaceutical, who are shareholders of Ayumi. The raised funds will be used for settlement of the share transfer related to Ayumi. The dilution rate from this third-party share allotment is expected to be 17.89%.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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